Question

Topic: Student Questions

Business In East Europe -

Posted by Anonymous on 7/11/2005 at 8:38 AM ET 50 Points
I am a student in East Europe (in Bulgaria most concretely)and I am studing marketing and I have no idea what to do in business aspect. But I want to do something different and interesting. Could you give an idea for busines? Also it will be great to read something around new business opportunities.
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  • Posted by adammjw on 7/11/2005 at 9:16 AM Accepted
    Welcome to KHE,

    I have to ask you a couple of questions if you do not mind.What made you choose marketing studies?Is there something specific which attracts you particularly in that domain?What are your real interests? Are they focussed on advertsing,finances,management,e-marketing?
    Try to answer those questions for yourself and then look around even now for opportunities to get an opening.You will need a lot of experience in the first place and then can really think ahead more consciously.
    Pls also bear in mind that whatever ideas KHE experts might come up with they are not necessarily good and timely propositions for you.Everybody is unique and different and it's precisely you who have to decide what's going to be good and profitable in your case.

    Hope it helps

    Adam
  • Posted by wnelson on 7/11/2005 at 9:57 AM Member
    What a different and interesting field marketing is! Wilipedia defines marketing as "the craft of linking the producers (or potential producers) of a product or service with customers, both existing and potential." The article goes on to discuss a four step process of analyzing the market or customers and their needs, identifying how to get their attention, planning and executing the actions to convince them that your product or service fills their needs, and then the actions to get them to actually buy it.

    I have always said the function of marketing is two things: Provide the tools for sales people to sell the product, and sell management to spend the ocmpany's limited resources on your ideas.

    The tools are developed through careful analysis of the market and customers, identifying customers' needs and what influences them. This is followed by analysis of the competitors and how well they meet those customers' needs. Then, the marketer identifies a product and/or service that takes advantage of the company's unique core competitencies to meet the customers' needs better. Then, the job is to put together the plan for reaching the customers - including the right media, concepts and ideas, and timing - to launch the products into the market place.

    This effort can involve many areas and activities including extensive research, surveys and focus groups, statistical analysis, and psychology. A marketing professional works with advertising experts, artists, engineers, manufacturing people, and salemen. As a marketing professional, you could focus on areas such as research, branding, advertising, or eCommerce, or you would work to become a brand manager and be more of a generalist.

    In Eastern Europe, I believe that marketing is a field that is relatively new. I also believe that the understanding of needs and satisfying those needs is a concept that hasn't been utilized for long. Focusing on consumer marketing - products sold directly to the people - could offer an exciting experience as a pioneer. Additionally, most of us outside of Eastern Europe don't have an appreciation for the business environment. "Business to business" marketing, where you are selling a company's products to other companies is a wide open area too.

    I hope this helps acquaint you with the field of marketing and the potential! Good luck!
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